The chamber’s study, which was conducted by IHS, looked at the impact of EPA’s regulations on both new and existing power plants. The EPA hasn’t yet issued its new regulation for existing power plants — that rule is expected to be announced Monday — but IHS based its analysis on a proposal by the Natural Resources Defense Council. The chamber says EPA’s rule is likely to be similar to NRDC’s policy framework.

The chamber’s study contends the EPA power plant regulations will reduce gross domestic product by $51 billion a year on average through 2030, and force consumers to pay $289 billion more for electricity during that time frame.

Plus, the regulations will result in only a slight reduction in global carbon emissions, the chamber contends, since the EPA regulations won’t apply to the rest of the world.

“Americans deserve to have an accurate picture of the costs and benefits associated with the administration's plans to reduce carbon dioxide emissions through unprecedented and aggressive EPA regulations,” said Karen Harbert, president and CEO of the U.S. Chamber of Commerce’s Institute for 21st Century Energy.

Environmentalists quickly disputed the chamber’s study. The NRDC said it will release a report Thursday that shows the benefits of curbing carbon emissions, which most climate scientists believe are a major contributor to climate change.

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